Friday, March 29, 2024
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Bitcoin’s sharp fall from $50K linked to stronger US dollar, gold — Correlation shows

Bitcoin (BTC) and spot gold hovered below their key psychological levels on Wednesday as a stronger United States dollar weighed on investors’ appetite for hedging assets.The BTC/USD exchange rate dropped 5.27% to its intraday low of $44,423 but recovered a portion of those losses after reclaiming the $45,000–46,000 range as

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Ethereum Near $2,000 Again on Supportive Technicals, Bitcoin Correlation

Ethereum prices rallied on Tuesday as a recent sell-off in the cryptocurrency market prompted traders to buy the dip. The world’s second-largest cryptocurrency climbed to its two-week high of $1,859.62 on Coinbase, a US-based crypto exchange, during the early Asian session. It started correcting lower on short-term selling sentiment but maintained

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Market Wrap: Bitcoin Falls to $18.1K as Correlation to Ether Picks Up

The price of bitcoin took a bit of a dip, though overall market sentiment remains bullish. Ether’s correlation to bitcoin is going up despite differences in value propositions.Bitcoin (BTC) trading around $19,077 as of 21:15 UTC (4:15 p.m. ET). Slipping 2.1% over the previous 24 hours.Bitcoin’s 24-hour range: $18,171-$19,920BTC above

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Bitcoin-Gold Correlation Hits Record High as Institutions Buy Crypto

The bitcoin-gold correlation has hit record levels, according to data from The Daily Shot, CoinMetrics, and skew.The correlation is being driven by economic and stock market turbulence, with institutional investors increasingly treating bitcoin as a haven hedge against inflation.Correspondence between gold and bitcoin prices will last for as long as

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